Double the Fun…Double the Returns! 2 Houses on One Lot.
Why THIS deal?
- ~$563/mo. cash flow once you can refi to 5.25%
- Cash flows at ~$435/mo. at today’s rates of 6.0%
- 2 separate dwellings on one lot with 4 bedrooms and 2 full bathrooms (main house has 2 beds/1 bath and secondary house has 1 bedroom/1 bath)
- Main dwelling can easily convert to a 3 bedroom/1 bathroom
- Almost all schools in this area will not be highly rated. This is typical for the area and it does not prohibit rentability
- Location has quick access to major commuting routes, shopping and schools
- This location is highly desirable and in an area which is on a fast upward trajectory
- Dani has personally owned in this area and recommends investing here
- 1-Car garage for the main unit
- Highly appreciating area with a strong rental market
- Property is off-market and a single agent will be representing both parties
- If there is not interest from a SDI investor, this will be going on the market next week
- Fully renovated including new roofs and some mechanical updates as well as many cosmetic updates
- The secondary house has a separate alleyway entrance
- You can almost double your money in 5 years!!
- This is a HUGE opportunity in this metro with the cash flow, once rented!
- No HOA charges
- The seller currently lives in the main house and has used the second dwelling as an office. They want to sell to an investor to avoid the hassle of preparing for a retail transaction, such as cleaning and staging. The asking price reflects this approach.
- #cashflow #appreciation #turnkey #multiplex
Why should you consider this house / what makes it a good investment?
- Built: 1950 (renovated 2024)
- Size:1,912 square foot home(s)
- Low Crime, Desirable Community, C Rated Schools
What’s next?
Email/text for address, analysis and to get connected to Simply Do It’s local team that handles this transaction.
Metro: Tampa
Team: Tali – email directly at tmp1@simplydoit.net
Code: Tampa2
Property Specifications | 2 | Per Door |
| Bedrooms | 3 | 2 main/1 |
| Bathrooms | 2 | 1.0 |
| Square Feet | 1912 | 956 |
| Year Built | 1950 | Reno 2024 |
| Garage Size | 1 | Main house |
| Schools Rating (scale 3-30, 30 is best) | 5 | |
| Lot size (sq ft) | 11,025 |
Purchase Assumptions | My Offer | Per Door |
| Offer used for analysis | $385,000 | $192,500 |
| Suggested offer (low) | $385,000 | $192,500 |
| Suggested offer (high) | $398,000 | $199,000 |
| Asking | $398,000 | $199,000 |
| Market Value (after improvements) | $398,000 | |
| Day-1 Equity | $13,000 | |
| Estimated Improvements (lower) | $2,000 | $1,000 |
| Estimated Improvements (upper) | $6,000 | $3,000 |
| Estimated Closing Costs | $7,700 | |
| Estimated Mortgage Costs | $5,390 | $2,695 |
| Other Fees At Closing (pts, . . . ) | $2,695 | 7% |
| Total Cost (estimated) | $404,785 | $2,695 |
Financing Assumptions | |||
| Down Payment (%) | 30% | ||
| Down Payment Amount | $115,500 | ||
| Financed Amount | $269,500 | ||
| Interest Rate | 6.000% | ||
| Mortgage Term (Years) | 30 | ||
| Monthly Mortgage Payment | $1,616 | ||
| Cash Outlay (Total Out of Pocket) | $135,285 | ||
Estimated Financial Assumptions | Monthly | Yearly | |
| Rent (upper)* | $3,300 | $39,600 | |
| Rent (lower)* | $3,000 | $36,000 | |
| Property Taxes | $400 | $4,800 | |
| Insurance | $175 | $2,100 | |
| Repairs | $150 | $1,800 | |
| Property Management Monthly (%) | 9.0% | ||
| Property Management Monthly ($) | $284 | $3,402 | |
| Leasing Fee | $111.6 | $1,339 | |
| HOA or Fixed Costs | $0 | $0 | |
| Vacancy Rate | 4.0% | ||
| Total Fixed Expenses | $1,235 | $14,817 | |
| Total Expenses (Fixed + Mortgage) | $2,851 | $34,206 | |
Financial Analysis / Deal Attractiveness | |||||
| Years: | 5 | 10 | 15 | 20 | |
| Cap Rate | 3.9% | 5.5% | 7.4% | 9.4% | |
| Net Cash Flow | $26,129 | $74,745 | $149,729 | $255,611 | |
| Equity Increase | $104,946 | $235,104 | $396,799 | $598,028 | |
| Total Gain | $131,076 | $309,849 | $546,528 | $853,639 | |
| Average Cash Flow/Year | $5,226 | $7,474 | $9,982 | $12,781 | |
| Average Cash Flow/Month | $435 | $623 | $832 | $1,065 | |
| Average Gain/Year | $26,215 | $30,985 | $36,435 | $42,682 | |
| Average ROI | 96.9% | 229.0% | 404.0% | 631.0% | |
| Annual ROI | 19.4% | 22.9% | 26.9% | 31.5% | |
| Projected Property Value | $484,228 | $589,137 | $716,776 | $872,067 | |
Secondary Dwelling
Disclaimer
Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.
The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info.